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New York City Transitional Finance Authority's Fiscal 2011 Series C Bonds Rated 'AAA'; Outlook Stable Jan 11 Product Image

New York City Transitional Finance Authority's Fiscal 2011 Series C Bonds Rated 'AAA'; Outlook Stable Jan 11

  • Published: January 2011
  • Region: New York
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Jan. 6, 2011--Standard & Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to New York City Transitional Finance Authority's (TFA) fiscal 2011 future tax secured series C bonds. In conjunction with this bonds issuance, Standard & Poor's affirmed its ratings on TFA's parity bonds, which include senior bonds, subordinate bonds, and recovery obligation bonds. Credit factors supporting the bond program include what we view as: A strong bond structure that separates the revenue stream supporting the bonds from both New York City and New York State; New York City's substantial and diverse economic base that supports pledged revenues, with a resident population base of more than 8 million that has steadily expanded....

Companies mentioned in this report are:
- New York City Transitional Fin Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research READ MORE >

- New York City Transitional Fin Auth

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